5 Things You Should Discuss During Your First Meeting With a Financial Advisor

5 Things You Should Discuss During Your First Meeting With a Financial Advisor

Gabrielle Olya  

A financial advisor can be an excellent resource to help you make a plan for your money both now and in the future. But if you’re new to this world, you might not know how to make the most of your time during an initial meeting. In today’s “Financially Savvy Female” column, we’re chatting with Jane Voorhees, CFP, director of financial planning at ALINE Wealth, about how to prepare for a first meeting with a financial advisor and what topics you should be discussing.

What To Do Before Your Meeting

Before an initial meeting with a financial advisor, do some research into who they are and how they work.  “Go to the advisor’s website and read through it,” Voorhees said.

She recommends looking for the answers to the following questions:

What are the advisor’s credentials (education, professional designations and licenses)?

What is the overall wealth management philosophy that is coming through or being portrayed?

Does the advisor have a team and if so, what role does each team member play?

Does the advisor work as a registered investment advisor (RIA) or do they work under the umbrella of a brokerage firm?

“Understand that RIAs operate under a higher fiduciary standard than broker-dealer firms,” Voorhees said.

What To Bring to an Initial Meeting

Once you’ve done some basic research to ensure you feel confident about the advisor you are meeting with, it’s time to set up the meeting. To make the most of this first meeting, come prepared with the proper financial documents.

“Bring investment and bank account statements, insurance policies, statements/details on debts you owe, your most recent tax return and a budget (if you have one),” Voorhees said.

What To Discuss During Your First Meeting With an Advisor

The first meeting is the time to make sure that you and your advisor would work well together, and that they are someone you are comfortable working with. Voorhees recommends asking about the following topics.

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